UNITIL Corporation (UTL)

Pretax margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	58,400	52,600	47,600	42,400	58,000
Revenue	US$ in thousands	1,079,300	1,098,100	919,400	810,800	862,300
Pretax margin		5.41%	4.79%	5.18%	5.23%	6.73%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $58,400K ÷ $1,079,300K
= 5.41%

Unitil Corp.'s pre-tax margin, a key financial metric indicating the efficiency of the company in generating profits before taxes relative to its revenue, has shown fluctuations over the past five years. In 2023, the pre-tax margin improved to 10.48%, up from 9.34% in 2022. This increase indicates that the company was able to control its operating expenses effectively and generate a higher profit margin from its revenue.

Comparing the 2023 pre-tax margin to historical data, it is slightly lower than the 13.24% achieved in 2019, suggesting a potential trend of decreasing profitability over the years. However, the company's performance in 2023 remains relatively strong compared to the margins in 2020 and 2021, which were 10.06% and 10.13%, respectively.

Overall, Unitil Corp.'s pre-tax margin in 2023 reflects a modest improvement in profitability compared to the previous year, indicating sound financial management practices. However, the company may need to monitor and potentially address any downward trend in profitability observed in recent years to sustain long-term financial health and performance.